Official Title

Proposing an amendment to the Constitution of the United States to require a two-thirds vote of each House of Congress to increase the statutory limit on the public debt.

Summary

Constitutional Amendment - Requires Congress, by law, to establish a statutory limit on the public debt.
States that, if such a limit is in effect upon the adoption of this amendment, that limit shall be the limit for purposes of this resolution.
Requires the statutory limit on the public debt to be increased only by the passage of legislation upon the affirmative vote of two-thirds of the Members of each chamber.

What’s this? Why not? Because they want it that way. We’ll never have a balanced budget with these guys until we start holding them accountable for their actions/lack of actions and firing them at the ballot box.